Duke Energy and Natural Gas Rate Hikes, Winter Cold Drive Up Energy Costs for Wake County Residents
With additional rate hikes scheduled and the unpredictability of future weather patterns, Wake County residents should plan ahead to mitigate energy costs.
Holly Springs, NC, Feb. 15, 2025—As Wake County residents open their energy bills in early 2025, many are seeing higher-than-expected costs due to rate increases for electricity and natural gas and an unusually cold January.
Rate Increases Approved by the NCUC
The North Carolina Utilities Commission (NCUC) has approved multiple rate increases for Duke Energy Carolinas (DEC) and Duke Energy Progress (DEP) customers and natural gas providers. The commission cited the need to fund infrastructure upgrades, improve grid reliability, and cover costs associated with severe weather damage.
For Duke Energy Progress customers, the approved rate hikes were and are:
October 1, 2023: +5.8%
October 1, 2024: +3.2%
October 1, 2025: +3.4% (planned)
For Duke Energy Carolinas customers, the increases are:
January 15, 2024: +8.3%
January 1, 2025: +3.3%
January 1, 2026: +3.0% (planned)
The combined impact of these increases means that some customers' electricity bills could rise by over 12% to 15% over three years.
At the same time, residents using natural gas have also faced significant increases. Piedmont Natural Gas, a subsidiary of Duke Energy, implemented a rate increase in November 2024, resulting in the average North Carolina residential customer paying about $7.50 more per month, or $90 more per year. Additionally, natural gas prices in North Carolina rose by 31.58% from 2023 to 2024, further contributing to higher home heating costs.
January 2025 Cold Snap Drives Higher Energy Usage
Adding to the burden of rising rates, January 2025 brought colder-than-usual temperatures to Wake County. The month recorded an average temperature of 36.6°F, making it one of the coldest Januarys.
The extreme cold led residents to use more energy for electricity and natural gas heating, significantly increasing overall energy costs. Despite efforts to conserve energy, many households saw noticeable increases in their monthly bills due to the combination of higher usage and rate adjustments.
Time-of-Use Pricing Can Help Manage Costs
Duke Energy offers time-of-use (TOU) pricing to help customers manage rising energy costs. This pricing encourages customers to shift energy use to off-peak hours when rates are lower.
Peak hours: Higher rates during high-demand periods
Off-peak hours: Lower rates when demand is reduced
Super off-peak hours: The cheapest rates, typically during overnight hours
Customers who adjust their electricity usage—such as running dishwashers and laundry machines late at night—can see significant savings on their bills.
Future Rate Increases and How to Take Action
While the planned increases through 2026 are already set, additional rate changes may be proposed in the coming years. Customers who want to voice concerns or provide feedback can contact the North Carolina Utilities Commission (NCUC), Duke Energy, and natural gas providers directly:
NC Utilities Commission: (919) 733-7328 or www.ncuc.net
Duke Energy Customer Service: 1-800-777-9898 or www.duke-energy.com
Piedmont Natural Gas Customer Service: 1-800-752-7504 or www.piedmontng.com
Dominion Energy North Carolina Gas: 1-877-776-2427 or www.dominionenergy.com
Customers are also encouraged to explore energy assistance programs, efficiency rebates, and payment plans to help manage rising costs.
Looking Ahead
With additional rate hikes scheduled and the unpredictability of future weather patterns, Wake County residents should plan ahead to mitigate energy costs. Monitoring energy usage, exploring TOU pricing, and staying informed about rate proposals will be key strategies in managing household budgets in the years to come.